- Arbitral Award
- ICC International Court of Arbitration 12040
PARTIES' REFERENCE TO "INTERNATIONAL TRADE USAGES" AS THE LAW APPLICABLE TO THE MERITS OF THE DISPUTE - ARBITRAL TRIBUNAL DECIDES TO APPLY THE UNIDROIT PRINCIPLES
In a dispute the parties requested the Arbitral Tribunal to base their decision on "international trade usages". The Arbitral Tribunal, after pointing out that “a general reference to trade usages is sometimes criticized for its vagueness", found that "consideration of a specific codification as the UNIDROIT Principles of International Commercial Contracts (1994)may provide a more precise set of rules" and in this respect also referred to the Comment to the Preamble of the Principles (p. 4).
E. Jolivet, L'harmonisation du droit OHADA des contrats: l'influence des Principes d'UNIDROIT en matière de pratique contractuelle et d'arbitrage, in Unifrom Law Review, p. 127 et seq. (p.142 fn 36)}}